Stocks Move Cautiously Higher Ahead Of Employment Report

Investors move markets higher on mixed retail data;  traders cautiously await tomorrow's July employment report.

Traders' attention now shifts to the monthly Employment Report, released before the bell on Friday. "Are we now due for the sixth consecutive significant excursion downwards after employment?" asks legendary trader Victor Niederhoffer, on his Daily Speculations website -- in reference to the fact that each of the past five reports have led to declines in the S&P 500.

Stocks On The Move

Wal-Mart (WMT | Quote | Chart | News | PowerRating) July Comp. Rises 2.4%; Net Sales Climbs 12.5%; Sees August Comps. Of 1%-3% Increase (full story).  WMT shares trade higher by nearly 1%.

Gap (GPS | Quote | Chart | News | PowerRating) July Net Sales Up 1%; Comp Down; Guides Q2 EPS Below Street View (full story).  GPS shares move lower by over 3%.

Target (TGT | Quote | Chart | News | PowerRating) July Net Sales, Comp Increase (full story).  TGT shares move higher by over 1%.

Bebe Stores (BEBE | Quote | Chart | News | PowerRating) July Same Store Sales Up 10% (full story).  BEBE shares climb nearly 13%.

Sprint Nextel (S | Quote | Chart | News | PowerRating) Q2 Profit Dips On Merger-related Costs; To Buy-back $6 Bln Shares; Revises FY06 Revenue Outlook (full story).  S shares drop by 12%.

Starbucks (SBUX | Quote | Chart | News | PowerRating) Q3 Earnings Rise, Yet Margins Under Pressure; Introduces FY07 Targets (full story).  SBUX shares take a hit trading down 8%.

Crude oil futures close lower by 1% to $75.57.

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